Rosenblatt Initiates Credo Tech (CRDO) With Neutral Rating, $170 PT

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) is one of the best performing new tech stocks to buy now. On January 21, Rosenblatt initiated coverage of Credo Technology with a Neutral rating and a $170 price target. The firm projects explosive growth for 2026, anticipating that revenue will nearly triple and earnings will more than quadruple. This optimistic near-term outlook is supported by Credo’s robust tech stack, its first-mover status in 400G and 800G solutions, and its strong position in both scale-out and scale-up connectivity for AI data centers. However, despite these advantages, Rosenblatt remains cautious, warning that the company will soon face imminent pressure from increasing competition.

Earlier on January 15, Barclays analyst Tom O’Malley raised the price target for Credo Technology Group Holding Ltd. (NASDAQ:CRDO) to $260 from $220, while maintaining an Overweight. This revision was part of a broader 2026 outlook for the semiconductor and semiconductor capital equipment sectors, where Barclays expects stock performance to be dictated by a company’s link to AI.

Rosenblatt Initiates Credo Tech (CRDO) With Neutral Rating, $170 PT

The analyst expressed a preference for companies that are fundamental to the AI ramp and suggested that high-quality stocks will eventually lead the market. He anticipated this would occur even as investors continue to debate how much of the current AI opportunity can be successfully deployed in the coming year.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) provides various high-speed connectivity solutions for optical and electrical Ethernet and PCIe applications in the US, Taiwan, Mainland China, Hong Kong, and internationally.

While we acknowledge the potential of CRDO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRDO and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.